ASML Holding N.V. (ASML) vs Lam Research Corporation (LRCX)

ASML Holding N.V. and Lam Research Corporation are both Semiconductor Equipment & Materials companies. ASML Holding N.V. is the larger, with a market value of $522.9B against $231.4B — 2.3× the size. Lam Research Corporation trades at the lower P/E: 27.9× against 33.7×. Lam Research Corporation grew revenue faster over the last twelve months: 33.4% against 28.8%. ASML Holding N.V. has the higher net margin (34.1% vs 32.3%) and the higher return on invested capital (84.9% vs 59.1%). Both pay a dividend; ASML Holding N.V. yields more (0.68% vs 0.59%). Across the 23 metrics below, ASML Holding N.V. leads on 12 and Lam Research Corporation on 11.

Valuation

Metric ASML LRCX Semiconductor Equipment & Materials median
P/E 33.70 27.86 33.70
P/S 11.46 9.00 4.22
P/B 23.65 16.91 2.94
Price to free cash flow 21.91 35.98 31.49
EV/EBITDA 27.35 22.89 22.64
EV/Sales 11.23 8.86 4.97
Earnings yield 2.97% 3.59% 2.02%
Free cash flow yield 4.56% 2.78% 2.27%

Profitability

Metric ASML LRCX Semiconductor Equipment & Materials median
Gross margin 54.35% 51.05% 46.86%
Operating margin 38.55% 36.95% 12.02%
Net margin 34.13% 32.34% 10.16%
Free cash flow margin 52.28% 25.02% 6.73%
Return on equity 0.00% 70.12% 5.31%
Return on assets 25.93% 35.02% 4.10%
Return on invested capital 84.93% 59.12% 6.36%

Growth

Metric ASML LRCX Semiconductor Equipment & Materials median
Revenue growth (TTM) 28.77% 33.36% 15.82%
EPS growth (last fiscal year) 34.25% 38.80% (4.56%)
Revenue growth, 5-year CAGR 18.28% 9.70% 10.11%
Net income growth, 5-year CAGR 21.78% 13.20% 0.00%

Health

Metric ASML LRCX Semiconductor Equipment & Materials median
Debt to equity 0.09 0.27 0.09
Current ratio 1.49 2.48 3.56
Net debt to EBITDA (0.72) (0.21) (0.49)

Dividend

Metric ASML LRCX Semiconductor Equipment & Materials median
Dividend yield 0.68% 0.59% 0.59%
Payout ratio 0.23 0.17 0.16

Size

Metric ASML LRCX Semiconductor Equipment & Materials median
Market cap 522.88b 231.35b 3.04b

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